• Service: Audit, IFRS
  • Type: Business and industry issue
  • Date: 4/4/2014

IFRS Newsletter: Banking - issue 13, Q1 2014 

The Bank Statement is KPMG’s IFRS Banking Newsletter produced by the International Standards Group and IFRS banking specialists around the KPMG network. It is a quarterly publication that provides updates on IFRS developments directly impacting banks, considers accounting issues affecting the sector, and discusses potential accounting implications of regulatory developments.
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  • The IASB has tentatively decided that IFRS 9 Financial Instruments will be effective .
  • The IASB expects to issue the remaining chapters of IFRS 9 in Q2 2014.
  • Market practice for pricing derivatives is evolving. We discuss some accounting issues related to the inclusion of funding into valuation estimates.
  • New section on benchmarks. We have looked at the financial statements issued by 10 banks reporting under IFRS to compare their new disclosure of the fair value hierarchy of financial instruments carried at amortised cost, such as loans..
  • The European Banking Authority issues proposals for disclosure of asset encumbrance. We consider some possible interactions with disclosure requirements under IFRS.


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IFRS Publications and news - IFRS publications and news – To receive information on the latest IFRS issues including GAAP comparisons, line of business, illustrative financial statements, comment letters and latest developments on Leases, Revenue and Financial Instruments 

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